In just one year in Boulder, Deion Sanders became one of college football’s most polarizing and controversial figures. From his outspoken opinions to his roster destruction and construction through the transfer portal, the Colorado Buffaloes head coach has revolutionized the sport — for better or worse.
His hire and first year as head coach have directed attention and financial reward to a program that had fallen away from national relevancy, but what is Sanders’ salary, contract, and net worth as the figurehead of the Colorado football program?
Deion Sanders’ Salary and Contract in 2024
Sanders signed a five-year deal worth up to $29.5 million in salary alone when he joined the Buffaloes from the Jackson State Tigers. For the 2024 college football season, his salary will be $5.7 million, an increase of $200,000 from his first season.
Like many head coach contracts, Sanders’ total salary is made up of a number of components. He receives a base salary of $500,000 that is topped up by additional compensation for activities such as media appearances, promotion and fundraising, and an amount allocated for “the development of the student-athlete.”
The latter is particularly pertinent given the footage that emerged in the 2023-2024 offseason, in which Sanders was seen chastising his players for a less-than-stellar attitude toward classroom work ethic. In amongst the pizzazz and never-ending social storm around the Colorado head coach, he bears his responsibility as a leader on his sleeve as well as his shoulders.
While he’s only been a college football head coach for the past three seasons and delivered a 4-8 season in Year 1 with the Buffaloes, it appears to have been an easy decision to justify Sanders’ salary and contract.
Colorado hasn’t been nationally relevant for many years, but the appointment of the enigmatic head coach has thrust the Buffaloes into the national spotlight.
“Deion Sanders’ stature transcends sports, and his hiring elevates not only the football program but the university as a whole,” CU Boulder Chancellor Philip DiStefano enthused in the official announcement of Sanders’ hiring back in Dec. 2022.
“I’m thankful Deion has chosen to join our Buffalo family, and I applaud Rick George for a truly inspired choice. This is an exciting new chapter in the long, storied history of Colorado football, and I look forward to standing shoulder-to-shoulder with our students, supporters, and fans to cheer on ‘Coach Prime’ and our student-athletes next fall.”
While he’ll earn $5.7 million in 2024, Sanders’ salary increases incrementally through the life of his contract. His annual salary will increase by $200,000 each year of the five-year deal.
The year-by-year breakdown of what the Colorado head coach will earn is below:
- $5.7 million in 2024
- $5.9 million in 2025
- $6.1 million in 2026
- $6.3 million in 2027
Those numbers are set in stone…for now. Sanders has a clause in his contract that triggers a negotiation period following the third year—the end of the 2025 college football season. At that time, the Colorado head coach can negotiate an extension, with the option to change the base and supplemental salary, liquidated damages, and termination conditions.
KEEP READING: Colorado 2024 Football Schedule
Speaking of which, if Colorado opts to terminate Sanders for performance, it’ll cost them a pretty penny. The Buffaloes will be on the hook for 75% of Sanders’ remaining contract value. If he opts to leave, he’ll pay the program $10 million after 2024, $8 million after 2025, and $5 million in the final two years of his current deal.
Sanders’ Net Worth
Under the terms of his current five-year contract, Sanders has a net worth of $29.5 million. That, however, doesn’t include the substantial amount he’s earned as a player and analyst prior to his coaching career.
It also doesn’t account for several additional payments, such as a comprehensive incentive package as listed below:
- $750,000 if Colorado wins the College Football National Championship
- $450,000 if Colorado plays in a New Year’s Six bowl game
- $150,000 if Colorado is bowl-eligible (non-NY6)
- $150,000 if Colorado wins six games in a single season
- $150,000 if Colorado wins the Big-12 Championship
- $150,000 if Sanders is the National Coach of the Year
- $100,000 for each win following the sixth win of a season
- $75,000 if Colorado plays in the Big-12 Championship Game
- $75,000 if Sanders is the Big-12 Coach of the Year
In addition to financial incentives for on-field accomplishments, Sanders’ contract also features a salary boost for helping achieve academic success during his time as the Colorado head coach.
- $50,000 if Colorado achieves a team APR of at least 954 in the first year of Sanders’ contract. For subsequent seasons, the team must earn an APR of 965
The Colorado head coach also received $20,000 for moving expenses and will receive $200,000 annually to cover the cost of a private jet for the purposes of recruiting.
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